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Original poster

Tenants in common

6 replies

FeelInvisable · 17/09/2023 21:16

I will speak to the solicitor but just tonight does anyone know the answer as I cannot remember when we got it sorted many years ago.

Not married. Mortgage paid off. Tenants in common in my favour. I had 86% in my name and the rest to be split equally. So he has 7%. If we split do I have to give him 7% of the total value of our house as of now (as it's obviously increased in value).

OP posts:
PinkRoses1245 · 17/09/2023 21:16

Yes

Original poster
FeelInvisable · 17/09/2023 21:21

Thank you.

OP posts:
soraya · 17/09/2023 23:18

interesting article in Daily Mail today about inheritance - can depend on whether you are married or not. Maybe take a look for a bit of free advice. It mainly about property and Inheritance Tax.

prh47bridge · 17/09/2023 23:49

soraya · 17/09/2023 23:18

interesting article in Daily Mail today about inheritance - can depend on whether you are married or not. Maybe take a look for a bit of free advice. It mainly about property and Inheritance Tax.

How is that in any way relevant? As @PinkRoses1245, given the situation outlined by OP, her partner is entitled to 7% of the total value of the house.

soraya · 18/09/2023 00:01

because it's not just if they split up but if one dies before the other. Will a lot go in Inheritance Tax, can he or she afford to buy out the other's share. They may have different beneficiaries. Just trying to be helpful.

Bromptotoo · 18/09/2023 09:26

He literally owns 7% of the property. In a split up scenario he may claim he may entitled to more or less.

On death he can will his share separately, that's a key point with TIC.

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